ight PropertyNews
Friday, March 30, 2012
What Men and Women Want (in Real Estate)
Coldwell Banker recently released their latest survey on what men and women want in real estate. Interesting enough, the results are not what you may think. Here are highlights of the findings: Both men and women place greater emphasis on their feelings about a home more than on layout, square footage, or price. And more than 60% also know within their first visit to the home is right for them. To read the complete report, please go to: [Men/Women Survey]
--Arthur Ng
Friday, February 10, 2012
Canada Grows Especially the West
As per my previous blogs and what I have been advising our clients, the local real estate market is unique. The economic and political stability, quality of life, the natural beauty and the sound social and education system is desirable world-wide. This is confirmed by the latest 2011 census report from Statistics Canada shows that our population is growing faster than any G8 nation, fuelled primarily by immigration and the bulk landing in Western Canada. For Metro Vancouver with its’ limited land base, it just means that prices can only head one way overall. This explains why Surrey and Port Moody is experiencing 19.9% and 18.6% growth respectively when compared to 2006. More than 200,000 new residents came to Metro Vancouver since 2006. This...Tuesday, February 7, 2012
An Income Tax Deduction for Your 1st Home Purchase?
Did you know that you could be saving up to $750 in income tax if you recently bought your first home? Many have forgotten about the Federal program that was introduced under Canada’s Economic Action Plan Budget 2009. The Home Buyers’ Tax Credit (HBTC) is a non-refundable tax credit based on the amount of $5,000 that you claim in your personal income tax return on line 369. You would claim this amount in the year you completed on your home. So if you bought your first home last year, you could have up to a $750 surprise bonus this April! For more details about this program, please click here: HBTC--Arthur Ng
Friday, January 27, 2012
Sitting on the Fence
“I’m going to wait until prices drop.” “I want to save enough for a large down payment.”
“The prices are too high.”
“A better house might come up.”
“My friends/media told me not to buy.”
We hear these comments on a regular basis. I will say that the right time to buy is when the conditions work for you regardless of the market. If you can afford the mortgage and the property is in the right location and meets most of your needs, why wait? What happens if the prices don’t come down? If the prices do come down, would you and the others sitting on fence jump in at the same time to compete for the same property? When you find the near perfect house but wait to see if another better one comes up and doesn’t, and meanwhile the house that you...
Tuesday, January 24, 2012
2012 BC Property Assessments
“My property assessments are up over 15%! Does this mean that my house is worth more now?”
As Real Estate agents we get asked this question all the time, in fact I remember getting asked this question 30 years ago too! Logically homeowners and buyers look at property assessments as some sort of guide to determine house values; unfortunately this method of evaluation is flawed. For example, most properties that are assessed by the BC Assessment Authority are never even inspected, meaning no one enters the home to see its physical condition, properties are mostly viewed from the outside or aerial mapping and assessed based on land size/location and age of the dwelling (recent building permits may trigger some further investigations...
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